There’s no doubt that family health insurance rates are constantly rising for everyone. However, much of the increase that you may be currently experiencing might be due to lifestyle factors that you can easily eliminate, which may even contribute to a lowering of your insurance premium!
Smoking is the single largest contributor to lifestyle-influenced private health insurance premium inflation. The small number of insurance providers that will take smokers often inflate their premiums for those who do not quit. The time for quitting has never been better – you’ll get a reduction in your private health insurance premium, save a bucket load of money by not having to buy cigarettes and your body will thank you as well! Think about it: one year of smoking cessation after years of smoking one pack of cigarettes a day will save enough money for a round-the-world trip from the lack of a need to buy cigarettes alone – that doesn’t include the reduction in your monthly private health insurance premium!
Health Savings Accounts allow you to deposit money into a special savings account intended for use on medical expenses tax free! This way, you won’t save any money on your medical expenses or private health insurance premiums directly – rather, you will see a reduction in the amount of money the government takes out of your pay check.
Often, private health insurance providers charge an extra fee to send a statement through the mail to your house or to allow you to pay by credit card. Your provider may waive this fee if you instruct them to send the statement by email, or better yet, not send one at all. You win, your private health insurance provider wins, the environment wins… that’s a win-win-win! Remember, when it comes to family health insurance, every dollar counts. After all, I’m sure you’d rather have your money in your bank account than your private health insurer, right?
Remember that when it comes to private health insurance, you are paying for vital coverage that could keep you in good health or possibly save your life. Feel free to skimp on the extra options, but remember that this is a bit of a gamble, and such actions could cost you!
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The biggest factor rising health insurance premiums is the money making motive of the insurance companies and health industry.